Foreclosures: Polk Follows Nation in Welcome Trend

County faring well in filings compared with Tampa Bay area.

Published: Thursday, April 11, 2013 at 1:22 a.m.

Last Modified: Thursday, April 11, 2013 at 1:22 a.m.

LAKELAND | Foreclosure activity decreased in March, both in Polk County and on a national level.

Polk's total filings (default notices, scheduled auctions and repossessions) dropped 21.4 percent on an annual basis and were down 17.7 percent from February, according to RealtyTrac.

U.S. foreclosure activity was down 23.3 percent from a year ago and slipped 1.2 percent from February. Altogether, U.S. filings in the first quarter of the year were at their lowest level since the second quarter of 2007.

"Although the overall national foreclosure trend continues to head lower, late-blooming foreclosures are bolting higher in some local markets where aggressive foreclosure prevention efforts in previous years are wearing off," said Daren Blomquist, vice president at RealtyTrac. "Meanwhile, more recent foreclosure prevention efforts in other states have drastically increased the average time to foreclose, which could result in a similar outbreak of delayed foreclosures down the road in those states."

In Polk, a total 439 homes received their initial foreclosure notice in March, compared with 396 the year before and 482 in February.

Florida's foreclosure activity in March increased 5.6 percent from last year, and declined 11 percent from February. Florida had the nation's highest foreclosure rate in the first quarter, with one in every 104 homes receiving a filing. That was nearly three times the national average of one in every 296 homes.

Real estate firm Home Encounter says the Tampa Bay area is still "packed" with foreclosures. Some 800 foreclosed homes are scheduled to be auctioned in Hillsborough County this month, and Pinellas has 535 properties set for auction, but Polk "fares well by comparison with only 163 homes," according to a report published this week.

"With new foreclosure filings up in our region, we're looking at several more years of prolific foreclosure activity," said Peter Murphy, CEO of Tampa-based Home Encounter. "The housing market will recover, but recognizing the magnitude of the foreclosure problem is an important part of healing."

[ Kyle Kennedy can be reached at kyle.kennedy@theledger.com or 863-802-7584. ]

<p>LAKELAND | Foreclosure activity decreased in March, both in Polk County and on a national level.</p><p>Polk's total filings (default notices, scheduled auctions and repossessions) dropped 21.4 percent on an annual basis and were down 17.7 percent from February, according to RealtyTrac.</p><p>U.S. foreclosure activity was down 23.3 percent from a year ago and slipped 1.2 percent from February. Altogether, U.S. filings in the first quarter of the year were at their lowest level since the second quarter of 2007.</p><p>"Although the overall national foreclosure trend continues to head lower, late-blooming foreclosures are bolting higher in some local markets where aggressive foreclosure prevention efforts in previous years are wearing off," said Daren Blomquist, vice president at RealtyTrac. "Meanwhile, more recent foreclosure prevention efforts in other states have drastically increased the average time to foreclose, which could result in a similar outbreak of delayed foreclosures down the road in those states."</p><p>In Polk, a total 439 homes received their initial foreclosure notice in March, compared with 396 the year before and 482 in February. </p><p>Florida's foreclosure activity in March increased 5.6 percent from last year, and declined 11 percent from February. Florida had the nation's highest foreclosure rate in the first quarter, with one in every 104 homes receiving a filing. That was nearly three times the national average of one in every 296 homes.</p><p>Real estate firm Home Encounter says the Tampa Bay area is still "packed" with foreclosures. Some 800 foreclosed homes are scheduled to be auctioned in Hillsborough County this month, and Pinellas has 535 properties set for auction, but Polk "fares well by comparison with only 163 homes," according to a report published this week.</p><p>"With new foreclosure filings up in our region, we're looking at several more years of prolific foreclosure activity," said Peter Murphy, CEO of Tampa-based Home Encounter. "The housing market will recover, but recognizing the magnitude of the foreclosure problem is an important part of healing." </p><p>[ Kyle Kennedy can be reached at kyle.kennedy@theledger.com or 863-802-7584. ]</p>